Royal Bank Of Canada Issues Positive Forecast for The Hanover Insurance Group (NYSE:THG) Stock Price

The Hanover Insurance Group (NYSE:THG) had its target price increased by equities researchers at Royal Bank Of Canada from $235.00 to $245.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has a “sector perform” rating on the insurance provider’s stock. Royal Bank Of Canada‘s target price points to a potential upside of 1.47% from the company’s current price.

Other equities research analysts have also recently issued reports about the stock. Citizens Jmp raised their price target on shares of The Hanover Insurance Group from $240.00 to $250.00 and gave the stock a “market outperform” rating in a research note on Thursday. Zacks Research upgraded shares of The Hanover Insurance Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 5th. Oppenheimer reaffirmed an “outperform” rating and set a $260.00 price target on shares of The Hanover Insurance Group in a research report on Tuesday, October 13th. Piper Sandler downgraded The Hanover Insurance Group from an “overweight” rating to a “neutral” rating and set a $220.00 price target for the company. in a report on Wednesday, July 15th. Finally, Citigroup restated a “market outperform” rating on shares of The Hanover Insurance Group in a research note on Thursday. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $234.29.

The Hanover Insurance Group Stock Up 2.7%

NYSE THG traded up $6.34 during trading on Friday, reaching $241.46. 81,989 shares of the company’s stock were exchanged, compared to its average volume of 316,042. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.38 and a current ratio of 0.38. The Hanover Insurance Group has a 1 year low of $166.54 and a 1 year high of $241.20. The company has a 50 day moving average price of $226.06 and a two-hundred day moving average price of $199.71. The stock has a market cap of $8.41 billion, a P/E ratio of 11.54 and a beta of 0.23.

The Hanover Insurance Group (NYSE:THG) last posted its quarterly earnings data on Wednesday, October 28th. The insurance provider reported $5.15 earnings per share for the quarter, beating the consensus estimate of $4.62 by $0.53. The business had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.81 billion. The Hanover Insurance Group had a return on equity of 21.39% and a net margin of 10.97%. During the same period in the prior year, the company earned $5.09 earnings per share. On average, equities research analysts anticipate that The Hanover Insurance Group will post 20.35 EPS for the current fiscal year.

Insider Activity at The Hanover Insurance Group

In related news, Director Jane Carlin sold 1,000 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $231.50, for a total transaction of $231,500.00. Following the completion of the sale, the director owned 2,270 shares in the company, valued at $525,505. This trade represents a 30.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Dennis Kerrigan sold 2,104 shares of The Hanover Insurance Group stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $222.41, for a total value of $467,950.64. Following the completion of the transaction, the executive vice president owned 12,003 shares of the company’s stock, valued at approximately $2,669,587.23. The trade was a 14.91% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 9,655 shares of company stock worth $2,145,846 in the last three months. 2.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of THG. Mather Group LLC. acquired a new position in shares of The Hanover Insurance Group during the third quarter valued at $29,000. Clearstead Trust LLC acquired a new stake in shares of The Hanover Insurance Group during the second quarter worth $36,000. Provenance Wealth Advisors LLC bought a new stake in shares of The Hanover Insurance Group in the third quarter valued at about $37,000. Root Financial Partners LLC grew its holdings in shares of The Hanover Insurance Group by 69.3% during the first quarter. Root Financial Partners LLC now owns 237 shares of the insurance provider’s stock worth $41,000 after buying an additional 97 shares in the last quarter. Finally, Elevation Wealth Partners LLC raised its position in The Hanover Insurance Group by 106.4% in the 3rd quarter. Elevation Wealth Partners LLC now owns 194 shares of the insurance provider’s stock valued at $42,000 after buying an additional 100 shares during the last quarter. Institutional investors own 86.61% of the company’s stock.

The Hanover Insurance Group Company Profile

The Hanover Insurance Group, Inc is a holding company that provides property and casualty insurance products and services through a network of independent agents. Its principal operating subsidiary is The Hanover Insurance Company, which traces its roots to 1852 and is headquartered in Worcester, Massachusetts.

The company offers personal insurance products such as automobile, homeowners, condominium, renters and umbrella coverage. Its commercial insurance business serves small and midsize businesses with products that include commercial property, general liability, commercial automobile, workers’ compensation and other specialized coverages.

The Hanover also provides specialty insurance solutions for select industries and risks, including professional liability, management liability, marine and other niche commercial exposures.